AI All Contents Funding Startup News in Korea (Korean Startup News)

AI-based review marketing ‘VReview’ raises KRW 10.5 billion in Series A funding

2023-03-07 2 min read

AI-based review marketing ‘VReview’ raises KRW 10.5 billion in Series A funding

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Indent Corporation, a South Korea-based company that operates VReview, an AI-based review marketing solution, announced today that it has secured KRW 10.5 billion in Series A investment.

In addition to existing investors SV Investment and Futureplay, LG U+, Korea Investment Partners, Crit Ventures, and Aekyung Industrial participated as new investors. In addition to leading VCs, strategic investors have also joined IndentCorp to help build the review ecosystem.

The new funding, which comes one year and 10 months after the company received a pre-Series A investment of 4.5 billion won in 2021, gives IndentCorp new momentum to lead the video review and short form ecosystem. The company plans to secure an additional 2 billion won in multiple closings in the first half of this year, completing its roadmap for a total Series A investment of more than 18 billion won.

Investors reportedly valued IndentCorp for its rapid growth and profitability through technology advancement and business model diversification, and for its competitiveness to lead the era of short-form commerce, also known as the fourth-generation commerce market, based on top IT talent.

Investors focused on the scalability and future vision of the review marketing solution ‘VReview’, the short-form video review commerce platform ‘Spray’, and the automated marketing platform ‘AMP’, which is scheduled to be officially launched in the first half of the year.

In fact, IndentCorp’s video review service has already secured a total of 3,800 partners across the U.S., China, and Japan, including the Korean market, and 12 million people, representing 60% of online shopping consumers in Korea, have experienced the service.

In the second quarter of this year, Indent Corporation will enter the global stage in earnest by collaborating with global big tech companies. The investment will be used for the global expansion of v-reviews (North America, Japan, Southeast Asia) and R&D of short-form video-based commerce and marketing AI technology. In addition, the company plans to expand its target market in earnest so that video reviews can be activated in intangible commerce areas such as performances, movies, and leisure.

“As short form is emerging as a global hot topic, we have focused on Korea’s Indent Corporation as a representative to lead this market,” said Park Jong-hwan, head of SV Investment. “It is expected to quickly grow into a company that can compete with global companies in the global market.”

Tae-seok Yoon, CEO of Indent Corporation, said, “We have been leading a new change in video trends based on our original technology to pioneer the fourth generation of short-form review commerce.” “We will continue to serve as an icon representing the ‘review commerce’ market by creating a virtuous cycle ecosystem that increases consumer satisfaction, which in turn leads to business revitalization for companies.”

[Startup News in Korea]


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